Dhanda Rajat 4
4 · ARES INDUSTRIAL REAL ESTATE INCOME TRUST Inc. · Filed Feb 2, 2023
Insider Transaction Report
Form 4
Dhanda Rajat
See Remarks
Transactions
- Other
Class I Operating Partnership Units
2023-02-01+515,464.468→ 515,464.468 total→ Class I Common Stock (515,464.468 underlying)
Footnotes (2)
- [F1]The Class I Operating Partnership Units ("Class I OP Units") were acquired by the reporting person on February 1, 2023 as consideration for the redemption of the reporting person's interest in a limited partnership. No cash consideration was paid. Beginning on January 1, 2024, the reporting person may request that AIREIT Operating Partnership LP, a subsidiary of the Issuer, redeem all or a portion of the Class I OP Units for cash, unless the Issuer's board of directors determines that the redemption of the Class I OP Units for cash would be prohibited by applicable law, the Issuer's charter, or the Operating Partnership's limited partnership agreement (the "OP Agreement"), in which case the Class I OP Units will be redeemed for shares of the Issuer's Class I common stock, subject to any limitations on redemption in the OP agreement. Any such redemption of Class I OP Units will be priced at the then-current NAV of such Class I OP Units.
- [F2]There is no expiration date for the reporting person's ability to request redemption of the Class I OP Units.